2,281 Shares in The Charles Schwab Corporation $SCHW Acquired by Interchange Capital Partners LLC

Interchange Capital Partners LLC purchased a new position in The Charles Schwab Corporation (NYSE:SCHW) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,281 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Charles Schwab by 25.4% during the 2nd quarter. Brighton Jones LLC now owns 31,181 shares of the financial services provider’s stock worth $2,845,000 after purchasing an additional 6,325 shares during the period. MQS Management LLC acquired a new stake in shares of Charles Schwab during the 2nd quarter worth approximately $286,000. Leavell Investment Management Inc. grew its stake in shares of Charles Schwab by 1.0% during the 2nd quarter. Leavell Investment Management Inc. now owns 12,173 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 118 shares during the period. CVA Family Office LLC grew its stake in shares of Charles Schwab by 2.9% during the 2nd quarter. CVA Family Office LLC now owns 7,774 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 216 shares during the period. Finally, Ramsay Stattman Vela & Price Inc. grew its stake in shares of Charles Schwab by 3.5% during the 2nd quarter. Ramsay Stattman Vela & Price Inc. now owns 12,107 shares of the financial services provider’s stock worth $1,105,000 after purchasing an additional 415 shares during the period. Institutional investors and hedge funds own 84.38% of the company’s stock.

Charles Schwab Trading Down 0.2%

Shares of NYSE:SCHW opened at $94.37 on Monday. The business’s 50 day moving average price is $94.43 and its 200-day moving average price is $90.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market capitalization of $171.30 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 0.85 and a beta of 0.97. The Charles Schwab Corporation has a 1 year low of $65.88 and a 1 year high of $99.59.

Charles Schwab (NYSE:SCHW) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.93 billion. Charles Schwab had a return on equity of 21.26% and a net margin of 35.93%.The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, equities research analysts forecast that The Charles Schwab Corporation will post 4.22 earnings per share for the current fiscal year.

Charles Schwab Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 1.1%. Charles Schwab’s dividend payout ratio (DPR) is presently 25.29%.

Charles Schwab announced that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 11.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SCHW shares. William Blair cut shares of Charles Schwab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. TD Cowen raised their price objective on shares of Charles Schwab from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. increased their target price on Charles Schwab from $119.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Piper Sandler reiterated a “neutral” rating on shares of Charles Schwab in a research report on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Charles Schwab in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Buying and Selling

In other Charles Schwab news, insider Paul V. Woolway sold 3,290 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $96.06, for a total value of $316,037.40. Following the transaction, the insider owned 41,188 shares in the company, valued at approximately $3,956,519.28. This trade represents a 7.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan S. Beatty sold 6,144 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $96.81, for a total value of $594,800.64. Following the completion of the sale, the insider directly owned 11,923 shares of the company’s stock, valued at $1,154,265.63. This trade represents a 34.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 267,128 shares of company stock worth $26,232,077 in the last ninety days. Company insiders own 6.30% of the company’s stock.

About Charles Schwab

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.